Last $12.92 USD
Change Today -0.03 / -0.23%
Volume 89.5K
TAXI On Other Exchanges
As of 8:10 PM 04/17/14 All times are local (Market data is delayed by at least 15 minutes).

medallion financial corp (TAXI) Snapshot

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11/29/13 - $17.85
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04/15/14 - $12.73
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medallion financial corp (TAXI) Details

Medallion Financial Corp., through its subsidiaries, operates as a specialty finance company in the United States. The company is engaged in originating, acquiring, and servicing loans that finance taxicab medallions and various types of commercial businesses. It offers commercial loans to finance the purchase of the equipment and related assets necessary to open a new business, or the purchase or improvement of an existing business; asset-based loans to small businesses; and secured mezzanine loans to businesses in various industries, including manufacturing and various service providers. The company also raises deposits; originates consumer loans for the purchase of recreational vehicles, boats, motorcycles, and trailers, as well as finances small scale home improvements; and conducts other banking activities. In addition, it provides other debt, mezzanine, and equity investment capital to companies in various industries. The company was founded in 1995 and is headquartered in New York, New York.

145 Employees
Last Reported Date: 03/5/14
Founded in 1995

medallion financial corp (TAXI) Top Compensated Officers

Chairman, Chief Executive Officer, Member of ...
Total Annual Compensation: $1.3M
President, Director and Member of Executive C...
Total Annual Compensation: $2.3M
Chief Financial Officer, Principal Accounting...
Total Annual Compensation: $389.1K
Chief Executive Officer of Medallion Bank and...
Total Annual Compensation: $451.3K
Executive Vice President and President of Med...
Total Annual Compensation: $456.7K
Compensation as of Fiscal Year 2012.

medallion financial corp (TAXI) Key Developments

Medallion Financial Corp. Reports Consolidated Earnings Results for the Fourth Quarter and Year Ended December 31, 2013

Medallion Financial Corp. reported consolidated earnings results for the fourth quarter and year ended December 31, 2013. For the year, the company’s total investment income was $34,929,000 against $32,344,000 a year ago. Net interest income was $26,568,000 against $1,135,000 a year ago. Net investment income after income taxes was $12,189,000 or $0.56 per diluted share against $8,765,000 or $0.43 per diluted share a year ago. Net asset value per share was $9.99 against $9.68 a year ago. Net increase in net assets resulting from operations was a record $25,776,000 or $1.16 per diluted common share, up 5% from $24,517,000 or $1.21 per share in 2012. Net asset value per share was $10.95 against $9.99 a year ago. For the quarter, the company announced that earnings, or net increase in net assets resulting from operations were $6,658,000 or $0.29 per diluted common share in the 2013 fourth quarter, up $135,000 or 2% from $6,523,000 or $0.30 per diluted common share in the 2012 fourth quarter. Book value per share increased from $9.99 to $10.95. This was due mainly to the company's ability to retain earnings in Medallion Bank, as well as raising equity in December at a premium to book.

Medallion Financial Corp. Declares Dividend for the Fourth Quarter Ended December 31, 2013, Payable on March 21, 2014

Medallion Financial Corp. announced a dividend of $0.23 per share for the fourth quarter ended December 31, 2013 up from $0.22 per share in the fourth quarter of 2012. The current dividend will be paid on March 21, 2014, to shareholders of record on March 14, 2014.

Medallion Financial Corp. Renews Commercial Paper Conduit Facility Agreement

Medallion Financial Corp. announced that, through a special purpose subsidiary, it had renewed a commercial paper conduit facility agreement with DZ Bank AG Deutsche Zentral-Genossenschaftsbank as Agent for its conduit, Autobahn Funding Company LLC. The amounts under the facility will be available to provide the company with continued liquidity to finance and grow its taxi medallion portfolio. The facility covers taxicab medallion lending in New York City as well as Boston, Chicago and other cities throughout the United States. The facility amount is $150,000,000 and has a duration of three years.


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